KAKE - Money - Headlines

Sprint Loss Widens, But Revenue Beats Estimates

By: Associated Press
By: Associated Press

Stay up-to-date with KAKE News:

Thursday, July 26, 2012

Sprint Nextel's loss widened in the second quarter as the country's third-largest wireless carrier wrote down the value of its moribund Nextel network.

However, Sprint was successful in convincing subscribers leaving Nextel to sign up for service on the Sprint network, boosting subscriber figures and revenue, and its stock jumped 14 percent in premarket trading.

In the April to June period, Sprint's net loss was $1.37 billion, or 46 cents per share. In the same quarter last year, the loss was $847 million, or 28 cents per share.

Analysts polled by FactSet were on average expecting a loss of 41 cents per share.

Revenue at the Overland Park, Kan., company was $8.84 billion, up 6 percent from a year ago. Analysts were expecting $8.72 billion.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 163847926 - kake.com/a?a=163847926